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Innovative Biosensors Inc., a company developing rapid, ultra-sensitive tests to identify harmful pathogens, today announced the completion of an $11.5 million Series B financing. The new proceeds will be used to accelerate the commercialization of IBI’s sensitive, and rapid biosensor-based technology for the detection of hospital and community acquired infections. Based on the CANARY® technology developed at MIT’s Lincoln Labs, IBI’s technology allows for highly accurate and sensitive diagnostic tests with results available in minutes.  technology platform is being used to develop highly-sensitive and rapid tests for the detection of hospital-acquired infections. Additionally IBI’s technology has been tailored to detect biological threats in building security, military, and civil defense applications.